IPO activity cools next week with just one new issue. Tata Capital, LG Electronics listings in focus – News Air Insight

The Indian primary market is set for a quieter week with just one mainboard initial public offering (IPO) of Midwest hitting the Street. Meanwhile, three ongoing mainboards and three SME issues will wrap up their bidding process. The much-awaited listings of Tata Capital and LG Electronics are slated for Monday and Tuesday, respectively, while eight other companies are also scheduled to debut on the bourses during the week. Check details:

Midwest IPO Price Band at Rs 1,014–1,065 to Raise Rs 451 Crore

The Rs 451 crore Midwest IPO will open for subscription on Wednesday, October 15. The issue is a combination of a fresh issue of 23 lakh shares aggregating to Rs 250 crore and an offer for sale (OFS) of 19 lakh shares aggregating to Rs 201 crores.

The company has set the price band at Rs 1,014.00 to Rs 1,065.00 per share. The lot size for an application is 14. The minimum amount of investment required by a retail investor is Rs 14,910 . The lot size investment for sNII is 14 lots (196 shares), amounting to Rs 2,08,740, and for bNII, it is 68 lots (952 shares), amounting to Rs 10,13,880.

The company claims to be India’s largest producer of Black Galaxy and Absolute Black granite.

DAM Capital Advisors, Motilal Oswal Investment Advisors, and Intensive Fiscal Services are the book-running lead managers, and KFin Technologies is the registrar.

Ongoing issues

Among the ongoing issues in the mainboard segment are the Canara HSBC Life Insurance IPO, the Canara Robeco AMC IPO, and the Rubicon Research IPO.

Canara HSBC Life Insurance Company’s initial public offering (IPO) worth Rs 2,517.50 crore opened for bidding on Friday. The issue was subscribed only 9% on day 1, with bids for 1.51 crore shares against the 16.67 crore shares on offer. The issue will close on Tuesday

The Rs 1,326 crore initial public offering (IPO) of Canara Robeco Asset Management Company entered its second day of bidding on October 10. At the end of day 2, the issue had seen a subscription of 48%, with bids placed for approximately 1.68 crore shares against the total 3.48 crore shares on offer. The issue will close on Monday.

Rubicon Research’s Rs 1,377 crore IPO, which opened for subscription on Thursday was subscribed 2.37 times, with bids for 3.89 crore shares against 1.64 crore shares on offer. The issue will close on Monday.

In the SME segment, public issues of Sihora Industries, SK Minerals & Additives and Shlokka Dyes will close on Tuesday.

IPO listing

Ten companies will make their stock market debut this week. On Monday, Tata Capital IPO will get listed and LG Electronics will make its debut on Tuesday, October 14. Canara Robeco, Rubicon Research and Anantam Highways InvIT will list on Thursday, October 16. Canara HSBC will likely be listed this Friday.

In the SME segment, Mittal Sections will get listed on Tuesday while Sihora Industries, Shlokka Dyes and SK Minerals on Friday, October 17.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times).